How to Find a Life Insurance Advisor (2023)
Quick Facts
Life insurance advisors can help you determine the policy you need
You should meet with multiple advisors before choosing one that best suits you
Review an agent’s credentials and complaint records to make an informed decision
Buying the perfect life insurance policy can be difficult, and you may wonder how life insurance works. Fortunately, you can find a life insurance advisor to assist you as you filter through your options to determine which works best.
You can find a life insurance advisor online, but it’s important to consider your options for how to find a life insurance advisor before choosing an agent.
Reputable life insurance advisors will have credentials like an advisor license and should not have many complaints from past or current life insurance policyholders. Meet with multiple life insurance advisors to find the one that best suits your needs.
The Role of a Life Insurance Advisor
Life insurance advisors specialize in assisting potential policyholders with the subtle details of life insurance policies. If you wonder whether life insurance is worth it or not, an agent can help you make that decision.
Whether you’re an informed client or don’t know much about your life insurance options, a credible life insurance advisor can help you find the best life insurance companies for yourself and your beneficiaries.
Life insurance advisors can also help you determine whether you can buy life insurance for someone else in your family.
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Tips for Finding a Reputable Life Insurance Advisor
You may feel overwhelmed when choosing the right life insurance advisor for your unique needs. Fortunately, there are a few things you can consider to ensure you find the best agent in your area:
Referrals: Ask family members and friends if they have a life insurance advisor they recommend.
Types of agents: Captive life insurance agents represent one company, while independent life insurance agents represent multiple companies. Determine which agent would be most helpful for your needs.
Experience: Ideally, you should look for an agent who has been in the business for at least three to five years.
Expertise: Find an agent that’s familiar with your situation and can recommend options and coverages that would meet your needs.
Credentials: You should only consider life insurance agents with a license to practice in your state.
Complaints: Research any advisor you’re considering to ensure they do not have numerous customer complaints online.
Finding a life insurance advisor does not have to be difficult, but you should take your time to ensure you find the best option.
Understanding Life Insurance Advisor Credentials
When reviewing a life insurance agent’s credentials, there are two options for licensing to become an independent insurance agent: professional and rogue.
Professional designations for a life insurance advisor typically include education and testing. Professional designations — like one with Chartered Life Underwriter (CLU) — typically indicate the individual takes life insurance and professional development seriously.
A rogue designation is one that anyone can purchase. Agents with rogue designations need only attend a short seminar or pass a simple online course. In general, it’s better to pursue a life insurance agent with a professional designation.
Questions to Ask a Life Insurance Advisor
When considering a life insurance agent, you may want to ask the following questions:
Do you represent multiple life insurance companies?
How do you handle medical issues?
How do you know what would work best for me?
How do you stay informed on life insurance topics?
What is your code of ethics?
The agent’s answers to these questions may help you determine whether they would fit your life insurance needs. However, if an agent does not understand life insurance terms and definitions as they should, it’s a good idea to seek assistance from another individual.
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Things to Consider When Choosing a Life Insurance Advisor
You want to ensure any life insurance agent you consider understands your needs and can recommend the best possible policy for you and your family. For example, you may want to consider life insurance for children if you’re a parent.
You can research life insurance policies to learn more about your options. For example, a term life insurance policy may work best for younger couples or people just starting their life insurance journey.
Term Life Insurance Monthly Rates by Age & Coverage Amounts
Age$100,000 Policy$250,000 Policy$500,000 Policy
25 Years Old$11$13$21
30 Years Old$11$14$22
35 Years Old$11$14$22
40 Years Old$12$17$26
45 Years Old$14$21$34
50 Years Old$18$29$50
55 Years Old$23$39$70
60 Years Old$32$61$87
65 Years Old$44$92$178
On the contrary, a whole life policy could fit best for certain families with more specific needs or investments. Ultimately, the right life insurance advisor should be able to clearly explain which type of policy would work best for you and why.
Term Life Insurance vs. Whole Life Insurance
Term life insurance offers coverage for a specific amount of time. Typical term life insurance policies are available from 10 to 30 years, though some options may differ.
On the other hand, whole life insurance offers coverage throughout a person’s lifetime. In addition, many whole life policies offer a cash value component that policyholders can use if financial needs arise.
Therefore, when you consider how to buy life insurance policies, the monthly or annual rates associated with a term or whole life policy are important.
Whole Life Insurance Monthly Rates by Age & Coverage Amounts
Age$100,000 Policy$250,000 Policy$500,000 Policy
25 Years Old$89$214$422
30 Years Old$103$247$488
35 Years Old$121$292$579
40 Years Old$143$348$691
45 Years Old$173$425$843
50 Years Old$213$524$1,042
55 Years Old$269$663$1,321
60 Years Old$355$879$1,753
65 Years Old$475$1,178$2,350
The cost is one of the most significant differences between term and whole life insurance policies. However, term life insurance is often much less expensive than whole life insurance. If you know you have a specific budget for life insurance coverage, find a life insurance agent to help you get the most for your money.
Everything You Need to Know on Finding a Life Insurance Advisor
Sometimes what life insurance companies don’t tell you is how many options you have, but a life insurance advisor can help. As you search “how do I find a life insurance agent?”, you’ll learn which individuals take their jobs more seriously.
Any advisor who refuses to answer questions or has limited knowledge of certain life insurance topics is probably not the best option. Life insurance advisors should have extensive knowledge of life insurance riders and other details.
The cost of life insurance advisors varies, so you should ask specifically about cost and expectations before you move forward with any agent. Start by searching “life insurance advisor near me”. If you don’t find an advisor close by that you like, branch out to consider additional agents.
Frequently Asked Questions
How do I choose a life insurance agent?
Start by asking for referrals from family members and friends or do online research to find a “life insurance advisor near me”.
Do you need an agent to get life insurance?
You can purchase life insurance without an agent in some cases, though most life insurance companies utilize agents’ expertise to help clients with questions or concerns.
Is a life insurance advisor the same as an agent?
Life insurance advisors and agents are the same in that they represent one or more life insurance companies rather than the prospective client.
What’s the difference between a life insurance agent and a life insurance broker?
If you consider a life insurance broker vs. agent, an agent works for one or more life insurance companies, while a broker works primarily for the client.
What documentation should I bring to my first meeting with a life insurance advisor?
Bring financial information and earnings to determine the amount of coverage you’ll need for your policy. You can also bring specific information about family members to determine how to properly set up the beneficiary portion of your policy.
How often should I review my life insurance policy with my advisor?
Review your life insurance policy annually or after any major life changes. Steadily assessing your life insurance policy will help you have peace of mind throughout life’s transitions.
How much does a life insurance advisor charge?
Some advisors charge a flat fee while others charge a percentage of what you’ll pay for your policy. Ask any advisor you’re considering what their expectation is regarding payment.
How do I know if an advisor is trustworthy?
Ask your advisor specific questions, and research online to determine if the advisor has many complaints from previous customers.
What happens if I can no longer afford my life insurance policy?
You may be able to use the cash value of a whole life policy to make payments if you’re unable to do so because of extenuating circumstances. Check with your advisor to learn more about your options.
Do I need my social security number to get life insurance?
You may need to provide your social security number to purchase a life insurance policy. Speak with your advisor to learn if you can purchase a policy without having to provide it.
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states.
After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in…
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Written by
Rachael Brennan
Licensed Insurance Agent
Benjamin Carr worked as a licensed insurance agent at State Farm and Tennant Special Risk. He sold various lines of coverage and informed his clients about their life, health, property/casualty insurance needs.
Assessing risks and helping people find the best coverage to suit their needs is a passion of his. He appreciates that insurance was designed to protect people, particularly during times…
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Reviewed by
Benjamin Carr
Former State Farm Insurance Agent
